French carmaker PSA and US-Italian rival Fiat Chrysler said Wednesday they had agreed on the terms of a merger to create the world’s fourth largest automaker as the sector grapples with the difficult and costly...
Daimler seeks majority control of its main China joint venture: Report
Daimler is seeking to buy a majority stake in its Chinese operations, three people familiar with the matter told Reuters, after initial efforts to raise its stake failed and as Chinese investors tighten their grip on...
Boards of Fiat Chrysler, Peugeot owner PSA, sign off on merger: sources
The boards of French carmaker PSA, the owner of Peugeot, and Fiat Chrysler (FCA) in separate meetings on Tuesday approved a binding agreement for a $50 billion merger, sources said. The two mid-sized carmakers announced...
Tata Motors in alliance talks with Chinese firms
Tata Motors Ltd, India’s largest vehicle maker, is in initial talks with a couple of Chinese automobile companies for a tie-up for its passenger vehicles business, three people aware of the development said. These...
China’s BAIC raising Daimler stake to unseat Geely as top shareholder
Daimler’s main China joint venture partner BAIC Group has set in motion a plan to double its stake to around 10% and win a board seat in the German luxury car maker, as it aims to upstage rival Geely, two sources...
French want PSA-Fiat board guarantee in $50 billion merger – sources
French shareholders in the planned merger of PSA and Fiat Chrysler are seeking reassurances that they will retain a numerical advantage on a combined board if CEO Carlos Tavares leaves, two sources close to PSA said...
PSA calls supervisory board meeting for Tuesday for possible FCA deal review: sources
French carmaker PSA could discuss a merger deal with rival Fiat Chrysler at a meeting of its supervisory board it has called for Tuesday, two sources familiar with the situation told Reuters on Thursday. Peugeot SA...
GM loans $40 million to firm to acquire, retool shuttered Lordstown, Ohio, factory
General Motors Co confirmed on Monday it agreed to loan $40 million (31.2 million pounds) to an electric vehicle start-up to facilitate the acquisition of its shuttered Lordstown Assembly plant in Ohio. Lordstown Motors...
M&M buys 36.6% in Meru for Rs 44.71 cr, to appoint majority of directors
Homegrown utility vehicles major Mahindra & Mahindra (M&M) on Thursday said it has completed acquisition of 36.63 per cent stake in Meru Travel Solutions in the first tranche as part of its Rs 201.5-crore deal...
Fiat Chrysler reaches tentative labor deal with United Auto Workers
Fiat Chrysler Automobiles NV and the United Auto Workers (UAW) union on Saturday announced a tentative agreement for a four-year labor contract, a boost for the automaker as it works to merge with France’s Groupe PSA...
MG Motor India partners Umicore for recycling batteries of upcoming electric SUV ZS EV
MG Motor India on Friday said it has partnered with battery life-cycle management firm Umicore for recycling end-of-life batteries of its upcoming electric SUV ZS EV. The partnership will allow end-of-life ZS EV...
Renault-Nissan to reboot alliance with new overseer
Renault, Nissan and Mitsubishi plan to appoint a general secretary at the helm of their partnership to boost cooperation and reboot joint operations after the departure of former alliance supremo Carlos Ghosn. France’s...
